Fresenius (FSNUF.PK, FSNPF.PK) recently updated its financial forecast for 2024, influenced by a stellar first quarter and better-than-predicted operational performance for the rest of the fiscal year. The company now predicts a 4% to 7% organic revenue growth instead of the previously envisaged 3% to 6%.
Furthermore, it is now expected that the annual group EBIT at constant currency will witness growth within the 6% to 10% range, a boost from the earlier estimation of 4-8%.
This optimistic outlook is predominantly due to the enhanced business expectations for Fresenius Kabi, a part of the Fresenius group. For the fiscal year 2024, Fresenius Kabi projects an organic revenue growth within the mid to high single-digit percentage range, a noticeable increase from the previous forecast of a mid-single-digit percentage range.
Additionally, Fresenius Kabi is also expecting its annual EBIT margin to fall between 15% and 16%, which is a marked improvement from the earlier prediction of approximately 15% growth.
